Bitcoin Defies Macro Shocks to Reach $80,896.72
Bitcoin defied expectations by surging 8% over three days to reach $80,896.72 despite several macroeconomic headwinds.
The Federal Reserve and Bank of Japan raised interest rates recently, while the Senate stalled on the CLARITY Act.
Despite these challenges, Bitcoin tested the upper Bollinger Band resistance at $79,855.56, with the RSI(14) indicator flashing overbought conditions at 78.57.
However, the MACD golden cross remained intact at 590.65, and price held above both the EMA50 and EMA200, indicating a bullish structure on the 4h chart.
A senior macro trader noted that with price testing upper Bollinger resistance while RSI signals exhaustion, a healthy retracement toward the 50-EMA support at $77,482.24 appears probable before continuation higher.